- Donald Trump has proposed tariffs on Chinese products as high as 100%, mainly targeting China‘s involvement in purchasing Russian oil.
- The latest tariff plans focus on China and the BRICS countries, especially efforts by China to buy Russian crude in yuan.
- Trump has called for NATO members to enforce tariffs up to 100% on China and to consider a NATO-wide ban on Russian oil imports.
- Earlier escalations saw the U.S. raise tariffs on Chinese goods to 145%, with China responding with 125% tariffs on U.S. imports, disrupting trade between the two nations.
- International leaders and U.S. officials are urging for a coordinated economic stance to limit funds to Russia amid ongoing conflict in Ukraine.
On Saturday, Donald Trump announced plans for new tariffs on China, with rates possibly reaching 100%. The measures focus on China’s purchases of Russian oil, as tensions rise over ongoing trade and energy issues between the U.S., China, and the BRICS countries.
According to the announcement, Trump pressed NATO members to create tariffs ranging from 50% to 100% on Chinese goods, specifically targeting transactions that help China buy Russian petroleum. Trump posted that these trade actions would only be reversed if the war between Russia and Ukraine comes to an end.
Trump stated, “China has a strong control, and even grip, over Russia, and powerful tariffs will break that grip.” The proposed tariffs add pressure to the BRICS trade network, where China is the largest buyer of Russian oil and increasingly relies on yuan-based payments and long-term contracts. Trump has also called attention to NATO members like Turkey, Hungary, and Slovakia, who still buy Russian oil. He described these purchases as weakening NATO’s bargaining power against Russia, saying, “It greatly weakens your negotiating position, and bargaining power, over Russia.”
This strategy follows a pattern of increasing trade tensions. Earlier in the year, Trump imposed a 145% tariff on Chinese goods, prompting China to respond with a 125% import tax on U.S. products. These actions led to what was described as “a blockade on commerce between the world’s two largest economies.” Presently, tariffs stand at 30% from the U.S. and 10% from China. Trump also set a 50% tariff on India for its purchases of Russian energy.
International responses have included statements from Secretary of State Marco Rubio, who addressed Russian drone activity in Poland, and Acting Ambassador Dorothy Shea, who reiterated, “America will defend every inch of NATO territory.” The U.K. has sanctioned 70 vessels involved in transporting Russian oil, targeting entities in China, Turkey, and elsewhere. The U.S. Trade Representative and Treasury Secretary have called for a united economic front to cut off Russian revenues.
As talks continue, market participants watch closely to see how proposed tariffs and possible oil bans might impact global trade and energy flows. For up-to-date information on these developments, see the latest updates on Trump tariffs on China.
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